China BAK Battery (NASDAQ:CBAT) Stock Passes Below 200 Day Moving Average – Should You Sell?

Shares of China BAK Battery, Inc. (NASDAQ:CBAT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.96 and traded as low as $0.8320. China BAK Battery shares last traded at $0.8351, with a volume of 285,805 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, China BAK Battery currently has a consensus rating of “Sell”.

China BAK Battery Trading Down 1.9%

The firm’s 50-day simple moving average is $0.89 and its 200-day simple moving average is $0.96. The firm has a market capitalization of $74.03 million, a PE ratio of -11.93 and a beta of 1.20. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.04.

China BAK Battery (NASDAQ:CBAT) last issued its quarterly earnings data on Monday, November 10th. The electronics maker reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.07. China BAK Battery had a negative net margin of 4.03% and a negative return on equity of 5.50%. The firm had revenue of $60.92 million during the quarter, compared to the consensus estimate of $39.27 million. Equities analysts expect that China BAK Battery, Inc. will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC increased its stake in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 355,536 shares of the electronics maker’s stock after purchasing an additional 28,411 shares during the quarter. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.97% of the company’s stock.

About China BAK Battery

China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.